The market fluctuated rangebound throughout the day, with the three major indices posting slight declines. The total trading volume of the Shanghai and Shenzhen markets reached 1.02 trillion yuan, down 34.3 billion yuan compared to the previous trading day. On the futures market, market hot topics were relatively scattered, with more stocks rising than falling, and over 3,500 stocks across the market posted gains. From a sector perspective, PEEK material concept stocks surged again, with New Hanhua Materials hitting the 20% limit-up. Chemical stocks were active, with multiple stocks such as Suqian Liansheng hitting the limit-up. Robot concept stocks rebounded, with multiple stocks such as Daye Co. hitting the limit-up. On the downside, power stocks collectively adjusted, with Leshan Electric Power hitting the limit-down. By the close, the Shanghai Composite Index fell 0.05%, the Shenzhen Component Index fell 0.05%, and the ChiNext Index fell 0.13%.
Sector Analysis
In terms of sectors, PEEK material concepts once again led the gains, with Juseilong, New Hanhua Materials, and Zhongxin Fluorine Materials hitting the limit-up, while Fuheng New Materials, Huami New Materials, and Zhongyan Co. rose over 10%. On the news front, recently, Zhongyan Co. announced that its Q1 2025 operating revenue was 64.56 million yuan, up 64.81% YoY, mainly due to increased product sales. The net profit attributable to shareholders of the publicly listed firm was 5.6602 million yuan, up 6,430.46% YoY.
Additionally, companies such as Zhongxin Fluorine Materials and New Hanhua Materials stated in recent announcements that they had long been involved in the production of DFBP (difluorodiphenyl ketone, a key raw material for PEEK) and had established partnerships with well-known domestic and overseas PEEK producers. Institutions noted that PEEK materials, with their excellent performance, are widely used in various fields and are expected to become an important material for weight reduction in humanoid robots, driving a market space worth hundreds of billions of yuan.
As PEEK materials continue to gain traction, they have once again spurred capital inflows into the robotics sector. Stocks such as Pingzhi Information, Yinbaoshanxin, Fangzheng Electric, and Aoto Electronics hit the limit-up, while Hanwei Technology, New Times, Meili Technology, and Hanyu Group posted significant gains.
On the news front, according to the National and Local Joint Innovation Center for Humanoid Robots, humanoid robots are expected to officially enter the category of generalized products by 2026. This prediction is based on the production or sales threshold of 100,000 units being reached by 2026, at which point humanoid robots will no longer be confined to specific fields. Overall, 2025 is regarded as the inaugural year for mass production of humanoid robots, and the industry chain's upstream and downstream sectors are expected to enter a performance validation period. Companies with core technological advantages and domestic substitution capabilities (such as those producing reducers, motors, and AI algorithms) may still hold medium and long-term allocation value.
Chemical stocks were active, with stocks such as Suqian Liansheng, Xianda Co., Jihua Group, Runtu Co., Dayang Biotech, and Hongqiang Co. hitting the limit-up.
From the Q1 reports disclosed by related publicly listed firms, driven by the simultaneous increase in the volume and price of main products, most agrochemical companies achieved significant performance improvements in the first three months of this year. Companies such as Lianhua Technology, Hunan Haili, Lier Chemical, Adama A, and Changqing Co. saw net profits grow over 100% YoY. Guohai Securities stated in a recent research report that as inventories in various overseas regions are cleared and the peak season for pesticides arrives, end-use demand is expected to recover, and the profitability of pesticide companies is likely to improve.
Stock Analysis
From the perspective of individual stocks, although the overall market saw more gains than losses today, the enthusiasm for consecutive board speculation did not recover. Only six stocks remained on consecutive boards, with a consecutive board advancement rate of less than 30%. Meanwhile, over 40 stocks either hit the limit-down or fell by more than 10%. Among them, some high-level stocks that had previously retreated continued to weaken, such as Bonded Technology, which hit the limit-down for three consecutive trading days, and Tianbao Infrastructure and Tianyuan Co., which both hit the limit-down for two consecutive days. On the other hand, stocks with financial reports that missed expectations or showed significant losses were also the main drivers of market declines. However, as the performance risks of individual stocks have largely been released, short-term speculation on individual stocks is expected to become active again after the holiday.
Notably, some funds attempted a counter-nuclear arbitrage in the afternoon, with Bubugao and Maoye Commercial both staging a floor-to-ceiling reversal. However, the higher-ranked Bubugao failed to maintain its limit-up, with its closing gain narrowing to 2%, while Maoye Commercial leaped to become the highest consecutive board stock in the current market. The subsequent performance of Maoye Commercial will be crucial; if it can further expand market highs, it may also drive an overall recovery in market sentiment.
Market Outlook
Today, the market continued its rangebound fluctuating trend, with all three major indices posting slight declines and trading volume further shrinking. However, given that today is traditionally considered a "cash-out day" before the holiday, the market did not see excessive selling pressure, and more stocks rose than fell, indicating that funds are not overly pessimistic about the market outlook. From the overall futures market, although recent market hot topics have remained scattered, they can be roughly categorized into the following three directions: 1) Dividend assets (such as banks and power stocks) have remained active in the market recently due to their defensive attributes. 2) With the end of the Q1 earnings season in late April, concerns about the performance of the technology sector have been alleviated, and technology growth sectors (such as AI and robotics) still exhibit strong industry visibility. 3) The consumer sector still holds recovery expectations under policies aimed at expanding domestic demand. The market is expected to continue rotating around these three directions, and timing will be key in navigating the market.
